The Global Weathering Steel Market size is expected to reach US$ 2.11 Billion by 2030, from US$ 1.29 Billion in 2023, at a CAGR of 7.3% during the forecast period. Weathering steel, also known as corten steel, is a self-protecting steel that develops a stable rust-like appearance when exposed to the weather. It has high tensile strength and is used in bridges, shipping containers, seaports, and outdoor sculptures. The key drivers of the market include superior properties like increased strength and corrosion resistance.
The Global Weathering Steel Market is segmented by type, end-use industry, and region. By type, the market is segmented into plates, sheets, coils, bars and others. The plates segment accounted for the largest share as weathering steel plates offer durability, high-yield strength, improved weldability and cost-efficiency.
Global Weathering Steel Market Regional Insights
- North America is expected to be the largest market for Global Weathering Steel Market during the forecast period, accounting for over 25.2% of the market share in 2023. The growth of the market in North America is attributed to the increasing construction activities and investments in infrastructure.
- The Asia Pacific market is expected to be the second-largest market for Global Weathering Steel Market, accounting for over 38.7% of the market share in 2023. The growth of the market in is attributed to rapid urbanization and industrialization in emerging economies.
- The Europe market is expected to be the fastest-growing market for Global Weathering Steel Market, with a CAGR of over 7.2% during the forecast period. The growth of the market in Europe is attributed to stringent regulations regarding sustainable construction.
Figure 1. Global Weathering Steel Market Share (%), By Region, 2023
Global Weathering Steel Market Drivers
- Superior properties driving adoption in construction and infrastructure sectors: Weathering steel, also known as corten steel, has gained increasing popularity as a construction material due to its superior properties and sustainability benefits. The high tensile strength, durability, corrosion resistance, and aesthetics of weathering steel make it well suited for bridges, buildings, marine environments, outdoor sculptures, and other structural applications.
- Cost efficiency fuelling uptake in manufacturing and energy sectors: Weathering steel offers significant cost savings compared to other materials like stainless steel owing to its relatively lower alloying element content. The elimination of expenses related to corrosion-prevention treatments such as paints and coatings offers long-term economic benefits.
- Recovery in end-use industries expanding market prospects: Key end-use industries like construction, infrastructure, automotive and manufacturing were adversely impacted during the COVID-19 pandemic, affecting demand for weathering steel. However, increased infrastructure spending and a rebound in industrial activity globally have reopened opportunities.
- Product development and process innovations: Leading weathering steel manufacturers are investing in R&D initiatives to enhance the properties of existing grades. Advancements like improvements in weathering behavior, weldability, formability, strength, etc. are expected to widen application scope across industries.
Global Weathering Steel Market Opportunities
- Rising sustainable construction driving product demand: With increasing environmental consciousness, the building and construction industry is gradually shifting towards sustainable materials and designs. Weathering steel meets green building criteria owing to its recyclability, durability and low maintenance needs.
- Growth across emerging economies: Developing nations in Asia Pacific, Latin America, the Middle East and Africa are undertaking large-scale infrastructure development projects to address rapid urbanization and rising energy needs. This is creating substantial demand for construction materials including weathering steel.
- Rising demand in art and architecture: Weathering steel is increasingly becoming the material of choice for contemporary artists and architects owing to its rustic and rugged aesthetic. Landmark outdoor sculptures and architectural projects globally showcase the creative potential offered by the patina finish and texture of weathering steel.
- Development of advanced weathering steel grades: Product innovation through proprietary alloy development provides significant opportunities for manufacturers to differentiate their offerings, cater to challenging applications and command premium pricing.
Global Weathering Steel Market Report Coverage
||Market Size in 2023:
||US$ 1.29 Bn
|Historical Data for:
||2018 to 2021
||2023 - 2030
|Forecast Period 2023 to 2030 CAGR:
||2030 Value Projection:
||US$ 2.11 Bn
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East & Africa: GCC Countries, Israel, South Africa, North Africa, and Central Africa and Rest of Middle East
- By Type: Plates, Sheets, Coils, Bars, Others
- By End-use Industry: Transportation, Art & Architecture, Industrial, Power Plants, Others
- By Material Type: Corten-A, Corten-B, Others
ArcelorMittal, United States Steel Corporation, Nippon Steel & Sumitomo Metal Corporation, Tata Steel, POSCO, SSAB AB, JFE Steel Corporation, Bluescope Steel Limited, HBIS Group, Metal Sales Manufacturing Corporation.
- Superior properties driving adoption in construction and infrastructure sectors
- Cost efficiency fuelling uptake in manufacturing and energy sectors
- Recovery in end-use industries expanding market prospects
- Product development and process innovations
|Restraints & Challenges:
- High initial costs limiting adoption
- Limitations in wet, cold and marine environments
- Lack of experience and expertise among stakeholders
Global Weathering Steel Market Trends
- Increasing adoption of weathering steel in bridges and transportation infrastructure: Weathering steel is emerging as an ideal construction material for bridges and transportation infrastructure like railways, ports, bus shelters etc. owing to its high strength, lightweight nature, durability and low maintenance.
- High-strength weathering steel enabling lightweight design: Manufacturers are developing innovative ultra high-strength weathering steel product lines with yield strength exceeding 1300 MPa. These advanced steel grades enable engineers to design lightweight, sustainable structures.
- Shift towards customized weathering steel solutions: An emerging trend is the provision of tailored weathering steel offerings catering to unique project requirements across end-use sectors. Manufacturers leverage R&D and advanced manufacturing to develop customized solutions.
- Widening range of coatings and finishes: Weathering steel suppliers are widening their portfolio of coatings and finishes to enhance the corrosion resistance, weatherability and aesthetic appeal of products. Advanced coating technologies and paint systems compatible with weathering steel are gaining prominence.
Global Weathering Steel Market Restraints
- High initial costs limiting adoption: While weathering steel offers lifecycle cost benefits from reduced maintenance, the high initial purchasing costs pose an affordability challenge. Weathering steel is approximately 1.5 - 2 times more expensive than conventional structural carbon steel. This is hampering uptake especially for cost-sensitive customers and projects.
- Limitations in wet, cold and marine environments: A key limitation of weathering steel is its slow weathering and potential corrosion in wet, humid, cold and marine environments. Without adequate exposure to atmospheric conditions that enable drying, the protective patina may not form properly leading to maintenance issues.
- Lack of experience and expertise among stakeholders: Although weathering steel has been in use for decades, lack of technical expertise in specifying, procuring, fabricating and installing weathering steel remains a challenge. Engineers, architects and contractors used to working with conventional steel have limited exposure to effectively leverage weathering steel.
New product launches
- In January 2021, ArcelorMittal launched new weathering steel grades for the construction industry that offer improved mechanical performance compared to existing structural long products. The new grades provide higher yield strength allowing for potential weight savings.
- In June 2022, Bluescope Steel announced the launch of its W350 weathering steel in Australia. It provides very high strength and delivers significant advantages over conventional steel grades.
- In September 2020, Metal Sales Manufacturing Corporation introduced corten wall and roof panels to complement its existing portfolio. The panels provide an attractive, natural rust patina and eliminate the need for repetitive painting.
Acquisition and partnerships
- In May 2021, ArcelorMittal acquired scrap processing firm Mia Metals in Europe to enhance supply of raw materials and achieve cost savings.
- In December 2020, SSAB entered into a partnership agreement with NLMK Clabecq in Belgium to jointly supply weathering steels for infrastructure projects in the Benelux region.
- In October 2019, Tata Steel completed the acquisition of steel business of Usha Martin Limited to augment its capability in producing value-added steels.
Figure 2. Global Weathering Steel Market Share (%), By Type, 2023
Top companies in Global Weathering Steel Market
- United States Steel Corporation
- Nippon Steel & Sumitomo Metal Corporation
- Tata Steel
- SSAB AB
- JFE Steel Corporation
- Bluescope Steel Limited
- HBIS Group
- Metal Sales Manufacturing Corporation
- Wugang Group
- Rautaruukki Corporation
- Leeco Steel
- Nucor Corporation
- Ansteel Group Corporation
- Baosteel Group
- Wuhan Iron & Steel Corporation
- Zahner Company
- Patina Solutions
- MMK Group
Definition: Weathering steel, also known as corten steel, is a high strength, low alloy steel that develops a protective rust-like appearance when exposed to atmospheric conditions. It contains copper, chromium, nickel and other alloying elements that form an adherent oxide layer on the surface when weathered, giving it corrosion resistance and eliminating the need for painting while maintaining the mechanical properties of steel. Weathering steel is used extensively in architecture, art, bridges, marine transportation, power plants and other structural applications where its aesthetic appeal and durability are valued. The patina protects the steel from further deterioration and does not compromise structural integrity.
Few other promising reports in Advanced Materials Industry
Foam Glass Market
Medical Engineered Materials Market
Recycled Textile Market